Nevoro completes technical report on Stillwater Project

Friday , 12 Jun 2009

Nevoro Completes NI 43-101 Technical Report on Stillwater Project

TORONTO, ONTARIO--(Marketwire) - Nevoro Inc. (TSX:NVR) ("Nevoro") is pleased to announce completion of the first of a series of NI 43-101 Technical Reports on its Stillwater project in south-central Montana. This first report, titled "Stillwater Ni-Cu-Co-Cr-PGE Project, Stillwater and Sweetgrass Counties, Montana USA" offers a detailed review of the history, geology and exploration potential of Nevoro's Stillwater properties. The Report is available for download on Sedar at www.sedar.com. Mr. Bob Suda, an Independent Qualified Person as defined in NI 43-101, served as the principal and senior author of the Report.

The Report points out that Nevoro's properties, which consist of 228 patented and unpatented mining claims totaling approximately 4,070 acres (1,647 hectares), cover some of the most intensely explored and best mineralized portions of the Stillwater Complex and lie adjacent to the JM Reef, which contains the largest and richest platinum group elements (PGEs) concentrations yet found in the region. Nevoro's properties include the areas of strongest Ni-Cu-Co mineralization, strongest chromite mineralization and strongest PGE-chromitite mineralization (beyond the JM Reef) recognized in the district.

The report describes the Mouat deposit as the most advanced Ni-Cu-Co target on Nevoro's properties. The Report notes that the deposit was drilled by Anaconda in the 1970s and contains historical resources, according to Anaconda, of 23 million tons of 0.62% Ni and 0.45% Cu, only partially delineated and open to depth (Nevoro has not done sufficient work to classify the Ni-Cu-Co estimates as current "mineral resources" or "mineral reserves" as defined in NI 43-101, nor is Nevoro treating the historical estimates as current mineral resources or mineral reserves. Notwithstanding the foregoing, the Independent Qualified Person has reviewed the source data and considers that this information is the most recent available information and relevant enough to be provided herein.), and states: "With the amount of past drilling and resource calculations, it could be considered as an early-stage development target. Advancing this target to successive phase may be possible with minimal expense. Verification sampling found anomalous gold and PGE values in the Basal Series sulfides." Nevoro is currently preparing a follow-up Technical Report to review and determine if the data relating to the historical Ni-Cu resources is sufficient to develop NI 43-101 resources.

In addition to Mouat, the Report describes several other Ni-Cu-Co targets at various stages of exploration that are considered worthy of additional work. These targets all have drill holes with interesting intercepts over large enough areas to host potential mineral deposits of significant size.

Regarding PGE targets, the Report notes that Nevoro's properties include some of the most promising PGE targets in the district outside of the JM Reef itself, and cites strong analogues to the PGE-rich UG2 chromitite seam in South Africa, which is currently the largest known PGE deposit in the world. The authors consider that this possible analogue was substantiated by the PGE intercepts encountered in Nevoro's recent drill hole MV-08-02 in the Mountain View area, close to the Mouat Ni-Cu-Co deposit. The thickness and grades in this hole are comparable to the UG2 seam.

Finally, in regards to chromite mineralization, the Report mentions that Nevoro controls the majority of the region's known chromite resources. Extensive exploration and studies done by various companies since the Korean War demonstrate in-place historical resources on Nevoro's properties totaling approximately 50,000,000 tons of 22% Cr2O3, the largest chromite resources in the United States (Nevoro has not done sufficient work to classify the historical chromite estimates as current "mineral resources" or "mineral reserves" as defined in NI 43-101, nor is Nevoro treating the historical estimates as current mineral resources or mineral reserves. Notwithstanding the foregoing, the Independent Qualified Person has reviewed the source data and considers that this information is the most recent available information and relevant enough to be provided herein.). Nevoro plans to initiate a third Technical Report to review and assess the mineralization and resources of these chromite deposits.

The independent qualified person under National Instrument 43-101 responsible for all technical data reported in this news release is Robert Suda.

For more information, please visit the Nevoro Inc. website at www.nevoro.com.